EUR/USD: broken "Pennant"

EUR/USD: broken "Pennant"

Bulls have broken the “Wedge’s” upper side, but the price faced a resistance at 1.0951 afterwards. However, the market is likely going to test the next resistance at 1.0991. If a pullback from this level happens, there’ll be an opportunity to have a decline in the direction of the nearest support at 1.0872 – 1.0828.

We’ve got a new local high on the one-hour chart. Meanwhile, the pair is likely going to test the next resistance at 1.0991 during the day. If we see a pullback from this level, bears will probably try to reach the 55 Moving Average.

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